John Is the CEO of Tech World, a Retail Store

question 211

Multiple Choice

John is the CEO of Tech World, a retail store that sells computers, monitors, cameras, televisions and many other electronic products.John and his executive team are meeting to brainstorm new ideas on how to grow the business.One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry.After performing a Porter's Five Forces analysis, John determines that all of the forces are high in this new industry.What should John do?

• A)explode into the market with an overflow of the product
• B)contemplate other products to introduce at the same time in this new market
• C)compare the competitor's prices and offer his product lower in this new market
• D)not introduce the product because all five forces are strong and this would be a highly risky business strategy

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Definitions:

Creative Intelligence

The ability to use imagination and innovation to solve problems, often linked with the capability to see new perspectives.

Robert Sternberg

An American psychologist known for his work on intelligence, creativity, wisdom, and love, including the development of Sternberg's Triangular Model of Love.

Semanticity

The quality of language in which words are used as symbols for objects, events, or ideas.

Divergent Thinking

A thought process that attempts to generate multiple solutions to problems.